Agenda - Planning Commission - 12/01/2011 - Work Session

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11A Metropolitan Council AA Regional Benchmarks Measuring Our Progress 2011 Update 3. Housin • Choices • Single Family Housing Units 2030 Growth Target: 2000-10 Actual: 242,500 units added 57,430 units added Single -Family Housing Production (Units added) 2001 2002 2003 2004 2005 Target: 8,000 to 10,000 / year o LO Loco CD NI' cr The target for single-family detached housing production acknowledges that roughly half of the overall housing unit target of 16,000 to 18,000 units per year is likely to be single-family detached housing. For context, 58 percent of the existing housing stock is single-family detached, so the goal recognizes that demand for attached housing is increasing relative to historic norms. 2010 marked a new high in the share of net growth in single-family • Target Range Units permitted Net growth housing, with 56 percent of the total growth. Since 2001, 41 percent of the net growth in housing has been single-family detached, varying from a high of 56 percent in 2010 to a low of 34 percent in 2005—a peak of attached housing construction. N co CA Cr) N N 00 CON CA S N Imo- I• O C Nx NN 2006 2007 2008 2009 2010 Source: Metropolitan Council Research. • Townhouse/Multifamily units 2030 Growth Target: 2000-10 Actual: The target of 8,000-10,000 new townhouse/multifamily housing permits per year, on average, reflects the objective of providing the region's residents with a range of life - cycle and affordable housing options. An evolving demographic mix and emerging generational preferences have led to significant construction of attached units, peaking at over 14,000 added in 2005 and representing two-thirds of net growth in housing units. While 242,500 units added 83,255 units added Townhouse / Multifamily Housing Production (Units added) c) Target: 8,000 to 10,000 per year co .r �N rnOD rnOD 00 L) a) )) co o 00 4 00 CO CA C7 N N-N NN 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Target Range Units permitted Net growth 11